SEBI Chairperson not involved in fund’s operations: 360 One WAM

Mumbai, Aug 11 (IANS) Asset and wealth management firm 360 One WAM on Sunday rejected allegations made by Hindenburg Research against SEBI and its Chairperson, Madhabi Puri Buch.

According to the company’s statement, the IPE-Plus Fund 1 did not invest in any Adani Group shares, either directly or indirectly throughout the fund’s tenure.

At its peak, the fund managed assets worth approximately Rs 4.8 crore, with over 90 per cent of its investments allocated to bonds.

“The fund was managed as a discretionary fund by the investment manager. No investor had any involvement in the fund’s operations or investment decisions. Mrs Madhabi Buch and Mr Dhaval Buch’s holdings in the fund were less than 1.5 per cent of the total inflow into the fund,” said 360 One in a statement.

The company said that IPE-Plus Fund 1 was a fully compliant and regulated fund and operated until October 2019. The fund was launched in October 2013.

“360 ONE Asset Management reaffirms that all its funds are fully compliant with all applicable regulations, and we adhere to the highest standards of corporate governance,” it added.

It emphasised that all points raised in the Hindenburg report have been previously addressed and clarified.

SEBI Chairperson has strongly denied the allegation levelled by Hindenburg Research against her, calling it a “character assassination attempt” because an Enforcement action and show cause notice was issued to the Nate Anderson-led company last month.

–IANS

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